TrueCar (TRUE) Company Report

TrueCar reported total revenue of $43.2 million and net income of $5.0 million, or $0.06 per share, for the third quarter ended September 30, 2025.
The company also reported Adjusted EBITDA of $(0.4) million, Cash Flow from Operations of $12.7 million, and Free Cash Flow of $11.2 million for Q3 2025.
As of September 30, 2025, TrueCar held $103.2 million in cash and cash equivalents on its balance sheet.
On October 15, 2025, TrueCar announced a definitive agreement for Fair Holdings, Inc. to acquire the company in an all-cash go-private transaction at $2.55 per share.
The acquisition is expected to close in the fourth quarter of 2025 or early 2026, and TrueCar will not host an earnings conference call or provide forward-looking guidance due to the pending transaction.

Nov 5, 2025, 10:02 PM

8-K

TrueCar Announces Q3 2025 Results and Pending Acquisition

TRUE

Earnings

M&A

Delisting/Listing Issues

TrueCar reported total revenue of $43.2 million for the third quarter ended September 30, 2025, which is down from $47.0 million in the second quarter of 2025 and $46.5 million in the third quarter of 2024.
The company achieved net income of $5.0 million, or $0.06 per share, in Q3 2025, compared to a net loss of $(7.6) million in Q2 2025 and $(5.8) million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $(0.4) million, with Cash Flow from Operations at $12.7 million and Free Cash Flow at $11.2 million.
TrueCar announced a definitive agreement for Fair Holdings, Inc. to acquire the company in an all-cash go-private transaction at $2.55 per share, which is expected to close in the fourth quarter of 2025 or early 2026.

Nov 5, 2025, 9:05 PM

Press Release

TrueCar Investigated by Ademi Firm Over Lone Star Funds Transaction

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Legal Proceedings

M&A

Takeover Bid

The Ademi Firm is investigating TrueCar (Nasdaq: TRUE) for possible breaches of fiduciary duty and other violations of law in connection with its transaction with Lone Star Funds.
TrueCar shareholders are expected to receive $2.55 per share, which represents an equity value of approximately $227 million.
The investigation is examining the conduct of TrueCar's board of directors, specifically concerning a transaction agreement that includes a significant penalty for competing bids and provides substantial benefits to TrueCar insiders.

Oct 15, 2025, 5:00 PM

Press Release

TrueCar to Go Private in $227 Million Buyout

TRUE

M&A

Delisting/Listing Issues

Takeover Bid

TrueCar is set to go private through an all-cash acquisition deal valued at approximately $227 million, led by its founder Scott Painter, who will return as CEO upon completion.
The acquisition price of $2.55 per share represents a 72% premium over TrueCar's closing stock price prior to the announcement.
The transaction is expected to close by late 2025 or early 2026 and will result in TrueCar's shares being delisted from Nasdaq.
TrueCar's largest collective stockholder, Caledonia, has committed to vote in favor of the acquisition, despite the company's current financial distress indicated by an Altman Z-Score of -2.41.

Oct 15, 2025, 2:25 PM

Bloomberg

TrueCar to be Acquired by Fair Holdings in All-Cash Transaction

TRUE

M&A

Takeover Bid

Delisting/Listing Issues

TrueCar, Inc. entered into an Agreement and Plan of Merger with Fair Holdings, Inc. and Rapid Merger Subsidiary, Inc. on October 14, 2025.
Under the terms of the merger, each outstanding share of TrueCar common stock will be converted into the right to receive $2.55 in cash.
The Board of Directors of TrueCar unanimously approved the merger and recommends that the company's stockholders vote to approve and adopt the agreement.
The agreement includes a 30-day "Go-Shop Period" following execution, ending at 11:59 p.m. (Pacific Time) on November 13, 2025, during which TrueCar and its representatives can solicit competing acquisition proposals.
Upon the closing of the merger, TrueCar's stock will be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934.

Oct 15, 2025, 12:57 PM

8-K

TrueCar to Be Acquired in Go-Private Transaction

TRUE

M&A

CEO Change

Takeover Bid

TrueCar announced it has entered into a definitive agreement to be acquired by Fair Holdings, Inc., an entity led by TrueCar founder Scott Painter, in an all-cash, go-private transaction.
TrueCar stockholders will receive $2.55 per share in cash, which represents an equity value of approximately $227 million based on current basic shares outstanding.
Upon completion of the transaction, Scott Painter will return as Chief Executive Officer.
The transaction is expected to close in the fourth quarter of 2025 or early 2026 and includes a 30-day "go-shop" period expiring on November 13, 2025.

Oct 15, 2025, 12:45 PM

Press Release

TrueCar Reports Q2 2025 Financial Results

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Earnings

Demand Weakening

Revenue Acceleration/Inflection

TrueCar reported 12% year-over-year total revenue growth for Q2 2025.
Adjusted EBITDA for Q2 2025 was a loss of ($1.2) million, with a margin of (2.5%).
Total units remained flat year-over-year at 0% in Q2 2025, while traffic declined (29%) year-over-year.
Monetization increased 13% year-over-year in Q2 2025, indicating higher revenue per transaction.
The independent dealer count decreased 10% year-over-year in Q2 2025.

Aug 7, 2025, 1:00 PM

Presentation

TrueCar reports Q2 2025 results, advances TrueCar+ commercialization, and forecasts H2 2025 profitability

TRUE

Earnings

Product Launch

Guidance Update

TrueCar reported Q2 2025 total revenue of $47.0 million, a 12.4% increase year-over-year, and reduced its net loss to ($7.6 million) from ($13.5 million) in Q2 2024. Adjusted EBITDA for the quarter was ($1.2 million).
The company made significant progress towards commercializing TrueCar+ (TC+) by year-end, completing integration with CDK's dealer management system and redesigning the consumer checkout flow, which led to a 115% increase in add-to-cart rate.
Operational efficiencies include a nearly 30% year-over-year improvement in average cost per sale for non-Affinity Partner units due to restructured performance marketing. A realignment of sales and service teams is also expected to generate approximately $500 thousand of monthly headcount savings starting in Q3 2025.
Despite an expected 5-10% decline in new vehicle retail sales in the second half of 2025 compared to prior year levels, TrueCar anticipates achieving Adjusted EBITDA profitability and positive Free Cash Flow over the second half of 2025.

Aug 6, 2025, 12:00 AM

8-K

TrueCar Q1 2025 Earnings Report & Results

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Earnings

Product Launch

Revenue Acceleration/Inflection

Revenue reached $44.8M in Q1 2025, marking a 9.2% YoY increase (up from $41.1M) while Adjusted EBITDA shifted from $0.9M to negative $3.8M, reflecting margin pressure .
Units sold grew from 79K to 86K – a surge of 23% YoY that significantly outpaced the industry’s 6.8% growth .
The company advanced its TC+ pilot with integration efforts involving CDK and Tekion, while managing uncertainties from 25% tariffs that may add approximately $4,500 in cost per vehicle .
Traffic declined from 7.7M to 5.8M and total dealer count slightly dropped from 11,388 to 11,272 during the period .
A detailed revenue breakdown across franchise, independent, OEM, and other product lines highlighted a mix of performance factors .

May 6, 2025, 1:01 PM

Transcript Presentation

TrueCar Reports Q1 2025 Operational Results

TRUE

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Revenue grew to $44.8 million (+9.2% YoY) while the net loss widened to -$10.1 million, reflecting higher overall expenses and strategic investments.
New unit sales increased by 23% YoY, significantly outperforming the industry’s growth rate, indicating robust demand.
The company advanced its TrueCar+ pilot program, achieving improved conversion rates and digital transaction efficiencies to support future scaling.